10.02.19
SEC Proposes Exchanges Seek Public Consultation on Data Fee Changes
by: Katanga Johnson
The SEC proposed that exchange operators submit requests to change fees for such services as market data and connectivity with other exchanges, and then seek industry feedback before any changes can be implemented. Under current rules, known as the National Market System (NMS) plan, fee changes become effective immediately to ensure retail investors get the best price possible. NMS also prevents trades being executed at prices inferior to bid and offer prices displayed at other trading venues. “The fees charged by NMS plans affect a wide variety of investors and market participants,” SEC Chair Jay Clayton said. “This rulemaking will help ensure that NMS plan fee changes benefit from review and comment by investors and market participants before those fees can be charged.”
Read the full article on Reuters